Luck, Duck and Pluck were partners sharing profits and losses as 2 : 1 : 1. Their
Question:
Luck, Duck and Pluck were partners sharing profits and losses as 2 : 1 : 1. Their Balance Sheet as on 31.12.2000 is given below and they dissolved their partnership on that date
The Bank could realise only ₹25,000 on disposal of stock. A sum of ₹3,000 was spent for motor car for getting better price. Other assets were realised as follows :
Jan. 2001 ₹12,000; Feb. 2001 ₹15,000; March 2001 ₹10,000; April 2001 ₹30,000; May 2001 ₹34,000.
Duck took over unsold furniture worth ₹1,000 at the end of May, 2001. The partners distributed the cash as and when realised. Show the distribution of Cash.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
January 2001 Cash realised 12000 Creditors paid 9000 Income tax paid 3000 Balance 0 ...View the full answer
Answered By
Abdul Wahab Qaiser
Before working at Mariakani, I volunteered at a local community center, where I tutored students from diverse backgrounds. I helped them improve their academic performance and develop self-esteem and confidence. I used creative teaching methods, such as role-playing and group discussions, to make the learning experience more engaging and enjoyable.
In addition, I have conducted workshops and training sessions for educators and mental health professionals on various topics related to counseling and psychology. I have presented research papers at conferences and published articles in academic journals.
Overall, I am passionate about sharing my knowledge and helping others achieve their goals. I believe that tutoring is an excellent way to make a positive impact on people's lives, and I am committed to providing high-quality, personalized instruction to my students.
0 Reviews
10+ Question Solved
Related Book For 
Financial Accounting Volume II
ISBN: 9789387886230
4th Edition
Authors: Mohamed Hanif, Amitabha Mukherjee
Question Posted:
